Fox-Sky clearance will begin fight with Comcast

It’s expected that Rupert Murdoch’s Fox will this week finally be given clearance to take over Sky.

Culture Secretary Matt Hancock will allow Fox to purchase the 61% of Sky that it doesn’t already own – in return for the sale of Sky News – reducing the influence of the Murdoch family over British Media.

The next act in the play might well be the purchase of the majority of Fox’s broadcasting interests – including Sky – by Disney, anticipated to also be the new owner of Sky News, and the holder of a series of obligations to maintain the loss-making channel’s independence.

Disney, which also owns America’s ABC network has agreed to operate and maintain a Sky News-branded news service for 15 years rather than the previously proposed 10 years.

However, Hancock’s approval will also allow a straight fight for Sky and its German and Italian counterparts by Comcast.

It’s anticipated that the US cablenet and owner of NBCUniversal will submit a formal £22 billion bid for Sky. Under UK takeover rules there will then be a further 28 days during which time Fox will then be able to make a counterbid.

Disney has already been forced to raise its bid for Fox after Comcast – which wants to bolster its portfolio amid increasing competition from online players including Netflix – entered the fray.

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